EIN/Tax IDs

an ein (employer identification number) is a unique 9 digit number assigned to every legal organization in the united states also known as an fein or federal tax id note an ein follows this format 00 0000000 why does ludus ask for an ein? at ludus, not only do we prioritize being compliant with the irs as a company, but we also ensure our customers are compliant with the irs if your program processes 200 ticket orders (transactions) and $20,000+ in credit sales, the irs requires us to send your organization a 1099 k a 1099 k is basically the irs's way of keeping track of where the money is flowing all it really shows is how much money you received in checks from us, which you should already have accounted for this won't affect your taxes or force you to pay more! another reason we ask for an ein is for verification purposes to fight against credit card fraud lastly, it's important that kyc regulations as part of the patriot act are followed what does ludus do with my ein? since we're a business ourselves with an ein, we understand eins should only be provided when necessary and then stored on file in a secure place so, that's exactly what we do to summarize you provide us your ein, we securely store this, and when it's needed, write your ein on your 1099 ks do other companies ask for an ein? absolutely! examples include any company that processes money on your behalf and then sends you that money, such as stripe, wepay, paypal, shopify, gofundme, etc is an ein the same as a tax exempt number? no, an ein (employer identification number), is different than a tax exempt number the ein is a unique 9 digit number assigned to every legal organization in the united states also known as an fein or federal tax id a tax exempt number "generally refers to a number assigned by a state agency that identifies organizations as exempt from state sales and use taxes"